Mudita holds extensive experience as an HR leader in banking and financial service industry. She started her career with Credit Suisse and has also worked with reputed institutions like Bank of America, IDFC and Reliance. Coming from an engineering background, she also holds an MBA from ISB Hyderabad.
In an in-depth conversation with Women Entrepreneurs Review Magazine, Mudita discusses her thoughts on talent acquisition & retention in today’s competitive market landscape, underscoring new-age HR policies. She also speaks about how remote & hybrid work models are evolving. She emphasises on the importance of having a strong employee centric philosophy and staying true to it with changing landscapes and business scenarios. Read out the article to know more.
In the current dynamic financial landscape, how are you seeing the market evolve in terms of talent acquisition and retention? What specific strategies are you employing to stay ahead in this competitive environment?
The talent market is highly competitive, with a significant pool of good talent available. It's up to organizations to connect with this talent and demonstrate why they should align their professional journey with them. In our case, the Web3 and crypto community in India is still developing, and we've established ourselves as a leader in this space.
Reaching the right talent is crucial, but it doesn’t stop there. We also focus on growing the talent pool by participating in industry events and communicating who we are, what we stand for, and what working at CoinDCX is like through our employer branding strategy. This helps in talent acquisition by highlighting our culture and the opportunities we offer for professional growth.
Regarding retention, we recognize that the emergence of new players in this evolving industry makes it vital to maintain trust with our employees. We ensure they have compelling reasons to stay with us rather than moving to other companies. This trust is built through a strong, collaborative, and supportive culture where people help each other grow and succeed.
With the rapid changes in the financial sector, how do you ensure that your HR policies remain agile and responsive? Can you share any recent examples where an agile approach has significantly benefited your organization?
As an organization with young talent, we've learned that relating to each individual's needs is crucial for building strong bonds. When developing our HR policies, we had the opportunity to adopt best practices from the start, always keeping the employee at the center. For example, we introduced a 'Design Your Own Benefit' policy. Initially, we conducted a 'wish list' survey asking our 200 employees what benefits they wished for. Recognizing that everyone's needs differ, we created this policy where each individual is allotted a sum of money to use on benefits that matter most to them, such as pet adoption, health, fitness, hobbies, or learning. This approach has been extremely popular, delivering personalized benefits that employees truly value.
Given the shift towards remote and hybrid work models, how are you addressing the challenges of maintaining productivity and engagement among your workforce? What innovative practices have you implemented to support this transition?
During the pandemic, we worked remotely, but over the past two years, we've transitioned to a hybrid work model. Now, all our employees are back at our office locations, working three days from the office and two days from home. This model offers the flexibility employees sought while transitioning from remote work to office work. It required clear communication and setting expectations and most employees have now settled into this routine.
They appreciate the flexibility of working from home a few days a week. Even on office days, we accommodate personal needs by allowing remote work when necessary. This flexibility helps build confidence. Regarding productivity and engagement, we believe it stems from a strong sense of ownership. We have quarterly OKRs (Objectives and Key Results), where each team and individual commits to specific goals for the quarter. We empower them to make decisions, connect with anyone in the organization, and take full ownership of their OKRs. We often say that every employee is the CEO of their work, meaning they have complete responsibility. This sense of ownership drives accountability and significantly enhances productivity.
How are you approaching succession planning and leadership development to ensure continuity and growth in a volatile market? What innovative methods are you using to identify and nurture future leaders within an organization?
As an organization, we've been around for six years, completing this milestone in 2024. Many of our team members have been with us from the start, and we prioritize their growth alongside the company's expansion. To align with their aspirations, we regularly engage in discussions to help them tap into opportunities that resonate with them. As the company grows, there’s no shortage of opportunities, from new business lines to product launches, ensuring that everyone stays motivated.
This year, we've placed significant emphasis on training. We conducted a three-month leadership training program, blending in-person and virtual sessions, led by an external trainer. The focus was on refining leadership styles and fostering confidence and inspiration within the team. Similarly, we ran a four-month program for managers, featuring workshops and classes to enhance their management skills.It's a combined effort of understanding individual needs and providing the necessary training. As leaders advance, their teams take on more responsibilities, driving succession and growth.
How do you navigate the complexities of regulatory compliance in the financial sector while maintaining a flexible and dynamic HR environment? Can you share an instance where regulatory changes prompted a significant shift in your HR policies?
We have focused on adhering to the highest compliance standards from the very beginning. When designing the organization, my background in banking provided a strong alignment with regulatory expectations in the HR function. From the start, we expected that the virtual digital assets will be regulated in India in the future and the key to long-term success would be understanding the future landscape that will govern us.
This approach has kept us ahead of the curve and, has ensured that we’ve remained fully compliant while keeping consumers and employees at the center. As a result, we've never needed to make drastic shifts, as doing things the right way has been in our DNA from the start.
During mergers and acquisitions, how do you manage talent integration to minimize disruption and maximize synergies? What best practices can you share from your experience in handling such complex transitions?
We recently completed the acquisition of BitOasis, the Middle East and North Africa’s leading virtual assets trading platform. In any M&A activity, two key factors are essential: alignment in business vision and alignment in people philosophy. This focus is crucial before entering discussions and making decisions. In our recent acquisition, we found a fundamental synergy in both areas. While practices between organizations may differ, shared principles and values make alignment easier.
Execution remains vital, even with strong alignment. Leaders play a critical role from the start, determining the target structure with a focus on retaining talent. Our goal was to ensure all employees were retained, with roles evolving based on their strengths, allowing for continued growth. When employees trust that they’ll be protected and offered greater opportunities, they commit to making the merger or acquisition successful.
Our approach centered on business goals, the right structure to achieve them, and clarity in alignment, enabling collaboration. We also preserved the identity of the acquired company, recognizing their brand value and the hard work that built it. Now, under a larger umbrella, there's an opportunity to scale their success tenfold.
Messages For Readers
There are many opportunities available, but it's crucial to have confidence in your abilities and not be discouraged by challenges. Women entrepreneurs often have to work harder due to the lack of historical support, so it's vital to tap into the available ecosystem, build networks, seek support, and move forward with confidence. This approach has inspired me and helped me stay focused on my professional goals while ensuring my personal environment supports them.
Additionally, I'd like to highlight that we have been recognized as a 'Best Place to Work' for four consecutive years. This is a reflection of the thoughtful leadership here, which has fostered a culture that empowers all employees. The HR systems and processes at our organization are exceptional, enabling employees to connect with leaders and share their aspirations, which is something I've found truly unique compared to other places I've worked at.
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